05-20-2024 Countries In Recession Won't Be "Lonely Boy"

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Any old report keeps us waiting. Waiting, waiting. Powell’s a Lonely Boy, He’s a Lonely Boy. Oh, Powell, you are the love that keeps us waiting.  

The latest tame inflation dropped rates. Many expected a strong report that would have pushed rates significantly higher.

Avoid emphasizing one report; instead, pay attention to coalescing trends. Megatrends suggest the next recession will affect more countries than usual.

Amid the eternal war between bulls and bears, the bulls merely shifted the guillotine a notch. The new 10-year yield range is 4.67 to 4.18.

Oh, Powell, you are the love that keeps us waiting.

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Song: Lonely Boy (2011)